2009-10 NBA Salary Cap – $57.7 Million
What will NBA teams like the Lakers and Hornets do when the salary cap for the 2009-10 season kicks in? NBA teams have been handed a memo with ball-crushing (pun intended) news that the new betting season’s salary cap will be set at $57.7 million. With current salaries for the Lakers at $84.6 million and the Hornets at $82.5 million – some players are certainly going to have to take a drastic pay cut in the very near future. For those of you who are unfamiliar with NBA “salary caps” – the cap that is set must cover salaries for the entire team. Still, that’s a good chunk of money to operate a ball club on, by anyone’s estimates.
Why the Cap Has Been Set So “Low”
With millions of Americans in the unemployment lines around the country, you may be thinking, “poor babies”. But it seems that the economic state of the entire globe has a lot to do with what is called “basketball related income” which is the rate at which teams can be expected to make money during a given fiscal year. Since the economy is in upheaval, projections for basketball related income (or, as the powers that be call it, ‘BRI’) are lower – which means that players who are accustomed to making $25 million may have to settle for a paltry $17 million instead. Pass the Kleenex; hearts are bleeding all around the world. To make matters worse, the salary cap for the next betting season (2010-2011) could be lowered to as little as $50.4 million; although some project that the cap might be as much as $53.6.
In Other Words…
For those of you who are not completely clear on what all the “hoopla” is about this lowered NBA salary cap, let’s break it down in different terms. The top earning players in the NBA are Kobe Bryant, Jermaine O’Neal, Tim Duncan, Shaquille O’Neal, and Tracy McGrady, each of whom make at least $20 million dollars each year. There are up and comers like LeBron James and Chris Bosh who are entering into what is known as “contract” years, when a pro basketball player realizes just how much he is worth to his team – and becomes demanding. So, in other words, with a $57.7 million salary cap, the Knicks could hypothetically be doling out the largest part of their budget to just Bosh and James – with little left to compensate other players.
So What Does That Mean for Sports Betting?
While we don’t have a crystal ball to look into the future, it can be assumed that this salary gap will mean that some players will be dissatisfied with what they are offered by their current team and choose to pony up with another team – which means that there may be a slight migration of talent in the NBA. But most of these big boys will remain in place – they’ve already made their mega millions, anyway – even though they may cry, weep, sob, blubber, snivel, whimper and otherwise make a big stink over the whole thing before they accept the fact that they are already making twenty times what President Obama is being paid to take care of the affairs of an entire nation. So while you can plan to see some teams that were less than stellar last season doing better this season when they lure the more money-hungry NBA stars to their club, basically the fallout from the $57.7 million dollar salary cap will just mean that basketball stars will be making less money.
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